Their presentation skills must be pretty good as they have raised millions
That December presentation must have been really well presented ....seemed to get a few funds to add to their holdings
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Their presentation skills must be pretty good as they have raised millions
That December presentation must have been really well presented ....seemed to get a few funds to add to their holdings
CBL another case of where Underlying Profit is highlighted and relied upon too much to assess the future
There is a big difference between PEB's channel stuffing ( booked revenues moving into receivables into doubtful debts into write downs ) and CBL's actuaries stuffing up risk assumptions and solvency ratios collapsing and big fat reserve strengthening to make up for it.
Also CBL had around $60m in net operating Cashflow 1H17... ( and about 70m spent on garbage acquisitions... )
One thing they both have in common is the funds seem to love em.
Looks like PEB has the better chance to succeed out of the two now.
I would say that PEB has raised the last of its capital. Harbour Asset fund managers are going to have to answer some really hard questions why their strategy of underwriting capital raisings/placements (nice fees, see?), supporting the share price post the capital raise (performance, see?) and building up an ever greater shareholding (more influence, see?) has blown up so spectacularly - $50m hit.
Cannot see their fund 'guardians' allowing any increased exposure to PEB - so PEB better perform!
I don't have any of this but trading is suspended. So what happens? Can this be suspended for indefinitely and investors are unsecured creditors?